Wirecard Scandal: Swiss Life fined SG$200,000 (US$149,000) for inadequate AML laundering and CTF controls

The Monetary Authority of Singapore fined Swiss Life and three banks for inadequate anti-money laundering and counter-terrorist financing controls, but found no evidence of willful misconduct.

Share

Wirecard scandal swiss life fined sg0000 us9000 for inadequate aml laundering and ctf controls
Picture of Editorial team

Editorial team

THIS PREMIUM INSIGHT IS FOR SUBSCRIBERS ONLY.

Stay ahead with precise, independent journalism of APAC's insurance markets.

Unlocked access today:

Already subscribed? Log in using the form below or click here

Read next

iccsc-unveils-new-action-plan-to-help-build-trust-in-singapores-insurance-sector
ageing-workforce-demands-employees-comp-rethink
beazleys-new-apac-head-looks-to-strong-growth-in-cyber-property-and-marine
singapore-life-industry-sees-strong-premium-growth-through-first-three-quarters-of-2024
gen-z-demongraphic-shift-highlights-need-for-flexible-insurance-products
sirc-2024-reflections-living-in-a-world-of-accelerated-risk
asia-insurtech-funding-falls-with-global-investment-expected-to-stabilise-at-us4-2bn-in-2024
what-the-us-election-result-means-for-asias-insurance-markets
industry-needs-to-adapt-and-reshape-image-to-attract-young-talent-canopius-report
1-1-renewals-reinsurers-stay-selective-as-buyers-market-emerges

Share this article